A memorial fund is defined as a fund kept as a separate account in the church treasury consisting of donations made by church members and non-members as a memorial of a person or event of the donator’s choosing.
The memorial fund will be overseen by the Deacons and the Pastor. Overseeing will consist of review of balance and receiving suggestions of possible purchases to be made with the funds. Decisions on purchases that exceed 20% of the total fund will be taken to congregation for final approval. Acknowledgement of the donation will also be part of the role of overseeing the Memorial Fund.
The funds are not to be used for day to day church operations, unless there are special and extraordinary circumstances and the decision is met by the approval of the congregation with a majority vote.
Items purchased for more than $500.00 will be recognized by a memorial plague.
The church treasurer will open a separate bank account for the sole purpose of memorial donations and keep record of the bank account activity. A yearly report/summary will be given to the congregation of the fund’s activity, including donations and purchases.